>> $3,700,000; $3,800,000. $4,300,000; $4,400,000. >> baer: renowned chicago art dealer richard gray is the man bidding on behalf of the preservationists. >> next bid at $4,700,000. >> baer: a master of the game, gray has won several high-profile auctions in the past. >> we were in a skybox sort of, and i was talking on the telephone to the president of the auction house, who was conveying the bids of the auctioneer. >> 4.8: $4,800,000. $5,500,000. $6,000,000. >> baer: as the bids go even higher... >> $6,100,000. >> baer: the group throws in its last dollars. >> 6.6: with bill at $6,600,000. >> baer: but the preservationists are quickly outbid. >> 6.650: i'll take 6.650, $6,650,000. >> baer: there's nothing left. the group has reached its limit. you were out of money. >> we were out of money.